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The Department of Finance this week received permission from the Ministry of Finance, the green light was given to refinancing Loan Payment Plan Providers, whose firm has been effective this morning, with Banco Santander, operation credit interest savings would nearly one million euros, in addition to cancel the Adjustment Plan eight years ahead of schedule.

As remembered by the Plenum in June, the City of Jumilla various measures implemented by the Government of Spain, including the ability to Councils to refinance the loan Provider Payment Plan is welcomed.

This operation is allowed to cancel the loan with banks initially subscribed to arrange it with others again be offered a less rate of interest.

In the case of Jumilla, the Procurement determined in September as most advantageous offer, presented by Banco Santander, so that the interest rate went from 4.20% to 1.23%, which translates into savings 900,000 euros in interest over the next eight years of loan repayment.

The transaction must be approved by full and authorized by the Ministry prior to final signature, signature that became effective this morning, and why also annulling the Adjustment Plan was subject to the initial loan.

The mayor of Jumilla, Enrique Jimenez, expressed as "this is a great news for all Jumillano Jumillano because not only have managed to sort the municipal accounts, but also with an exemplary management has been achieved cancel an adjustment plan, thanks to today, the City of Jumilla, if you meet all the parameters set by the law, something to celebrate all ".

For his part, Councillor of Finance, is highlighted as an "extraordinary way to end the year with this firm, a loan at low interest, similar to that already had entered the City of past legislatures, and which saved to city coffers nearly 1 million euros. Noticia result of the work and responsibility of the entire government team, allowing you to cancel the Adjustment Plan eight years ahead of schedule, and further reduce debt for future legislatures. "

Source: Ayuntamiento de Jumilla